American Academy of Actuaries

PECO to Voluntarily Delist Capital Trust Receipts from NYSE

Retrieved on: 
Friday, April 12, 2024
Energy, Other Energy, Utilities, Oil, Gas, EXC, PECO Energy Company, Natural gas, New York Stock Exchange, OTC, Annual report, Commitment, Security (finance), Trust, Electricity, Part Two, Financial statement, Security, Result, Exelon, Risk, American Academy of Actuaries, Analysis, ITEM, PECO

PECO Energy Company (“PECO”) announced today that it will voluntarily delist the Trust Receipts of PECO Energy Capital Trust III (the “Trust”), each representing a 7.38 percent Cumulative Preferred Security, Series D, $25 stated value, issued by PECO Energy Capital, L.P. and unconditionally guaranteed by PECO (the “Securities”), from The New York Stock Exchange (the “NYSE”).

Key Points: 
  • PECO Energy Company (“PECO”) announced today that it will voluntarily delist the Trust Receipts of PECO Energy Capital Trust III (the “Trust”), each representing a 7.38 percent Cumulative Preferred Security, Series D, $25 stated value, issued by PECO Energy Capital, L.P. and unconditionally guaranteed by PECO (the “Securities”), from The New York Stock Exchange (the “NYSE”).
  • PECO has not arranged for the Securities to be listed on another national securities exchange or for quotation of its security in a quotation medium (i.e., the OTC market).
  • Financial Statements and Supplementary Data: Note 18, Commitments and Contingencies; and (2) other factors discussed in filings with the SEC by PECO.
  • Headquartered in Philadelphia, PECO delivers energy to nearly 1.7 million electric customers and more than 552,000 natural gas customers in southeastern Pennsylvania.

Securian Financial names Kristin Ferguson senior vice president of key business line

Retrieved on: 
Wednesday, November 8, 2023
Professional Services, Insurance, Finance, Society of Actuaries, Series 7, Mathematics, Economics, Financial management, American Academy of Actuaries, Ferguson, Iowa State University, Multimedia, Securian Financial Group, Risk management, American Academy, Retirement, FSA, Society, Casualty (series 27), Management

Securian Financial named Kristin Ferguson senior vice president in charge of Individual Solutions, which includes the company’s individual life insurance and individual annuities business lines.

Key Points: 
  • Securian Financial named Kristin Ferguson senior vice president in charge of Individual Solutions, which includes the company’s individual life insurance and individual annuities business lines.
  • View the full release here: https://www.businesswire.com/news/home/20231108412821/en/
    Kristin Ferguson, Securian Financial senior vice president of Individual Solutions (Photo: Business Wire)
    Ferguson reports to Chris Hilger, Securian Financial’s chairman, president and CEO.
  • She succeeds longtime Securian Financial executive George Connolly, who is now serving as executive advisor and chief strategy officer, reporting to Hilger.
  • Most recently, Ferguson served as vice president, chief financial officer and actuary for Individual Solutions.

American Academy of Actuaries: Earlier Congressional Reform of Social Security Could Ease Reform Impacts on Beneficiaries

Retrieved on: 
Monday, October 30, 2023
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"The American Academy of Actuaries' latest review of Social Security data and projections shows a clear, compelling benefit and public good to Congress engaging the reform process sooner rather than later," said Academy Senior Pension Fellow Linda K. Stone, the U.S. actuarial profession's chief public policy liaison on Social Security and other retirement issues.

Key Points: 
  • "The American Academy of Actuaries' latest review of Social Security data and projections shows a clear, compelling benefit and public good to Congress engaging the reform process sooner rather than later," said Academy Senior Pension Fellow Linda K. Stone, the U.S. actuarial profession's chief public policy liaison on Social Security and other retirement issues.
  • "Acting now to address Social Security's financial challenges would allow Congress to consider reform options that are more moderate, gradual, and give the American people time to adjust to any needed changes in benefits or taxes."
  • Without reform ahead of 2034, people already receiving benefits by that depletion year could face an automatic 20% cut in benefits.
  • The American Academy of Actuaries is a 19,500-member professional association whose mission is to serve the public and the U.S. actuarial profession.

CNO Financial Group Names Karen DeToro President, Worksite Division and Jeremy Williams Chief Actuary

Retrieved on: 
Thursday, October 26, 2023
University of Southern Indiana, Insurance, MAAA, CNO, NYSE, CERA, Health, EY, Mathematics, Economics, Life, Northwestern University, American Academy of Actuaries, CNO Financial Group, Projection, MBA, Growth, American Academy, Workplace, OneMain Financial, Retirement, FSA, University, Society, Society of Actuaries, Butler University, Management, Life insurance, New York Life Insurance Company

CARMEL, Ind., Oct. 26, 2023 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) today named Karen DeToro as president, Worksite Division and Jeremy Williams as chief actuary, effective January 1, 2024.

Key Points: 
  • CARMEL, Ind., Oct. 26, 2023 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) today named Karen DeToro as president, Worksite Division and Jeremy Williams as chief actuary, effective January 1, 2024.
  • DeToro and Williams will report to Gary C. Bhojwani, chief executive officer.
  • DeToro, currently CNO's chief actuary, is a seasoned insurance and financial services industry leader with nearly 30 years of experience in strategy, individual and group insurance product management, technology enablement, actuarial and finance.
  • "In the past several years, CNO expanded our Worksite offerings as a comprehensive provider of personalized employee benefits solutions," said Bhojwani.

AM Best to Participate at 2023 Casualty Loss Reserve Seminar

Retrieved on: 
Monday, August 28, 2023
Banking, Professional Services, Insurance, Finance, AM Best, ALL, American Academy, Public policy, American Academy of Actuaries, EDT, Casualty Actuarial Society, Casualty, AM, News, Chirico

AM Best Director Steven Chirico will speak on a panel, titled, "Rating Agency & Investor Views of Insurer Financial Condition" on Tuesday, Sept. 12, at 10:00 a.m. (EDT) at the 2023 Casualty Loss Reserve Seminar, which will take place Sept. 11-13, 2023, in Orlando, FL.

Key Points: 
  • AM Best Director Steven Chirico will speak on a panel, titled, "Rating Agency & Investor Views of Insurer Financial Condition" on Tuesday, Sept. 12, at 10:00 a.m. (EDT) at the 2023 Casualty Loss Reserve Seminar, which will take place Sept. 11-13, 2023, in Orlando, FL.
  • The seminar is hosted by the Casualty Actuarial Society and the American Academy of Actuaries.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.
  • Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates.

Actuaries: Inflation, COVID Emergency's End, Small Employer Coverage Shifts Could Influence 2024 Health Premium Rates

Retrieved on: 
Wednesday, July 19, 2023
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Health care costs recently have been increasing at a rate above inflation, and renewals of expiring multiyear contracts setting reimbursement rates are expected to reflect providers' increased operational costs.

Key Points: 
  • Health care costs recently have been increasing at a rate above inflation, and renewals of expiring multiyear contracts setting reimbursement rates are expected to reflect providers' increased operational costs.
  • Payment responsibility changes and potential enrollment shifts due to the end of the COVID-19 public health emergency, which may lead carriers to change the assumptions on which rates are based.
  • Shifts in the coverage options offered by small employers, potentially resulting in higher premium rates in ACA-compliant small group plans.
  • Small employers continue to migrate toward alternative funding arrangements, including level-funded plans, self-funded plans, multiple employer welfare arrangements, and association health plans.

American Academy of Actuaries Welcomes Geralyn Trujillo as Senior Director of Public Policy

Retrieved on: 
Monday, July 17, 2023
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WASHINGTON, July 17, 2023 /PRNewswire/ -- The American Academy of Actuaries today welcomed Geralyn Trujillo, a leading and accomplished voice on public policy issues in the insurance space, as its senior director of public policy.

Key Points: 
  • WASHINGTON, July 17, 2023 /PRNewswire/ -- The American Academy of Actuaries today welcomed Geralyn Trujillo, a leading and accomplished voice on public policy issues in the insurance space, as its senior director of public policy.
  • Geralyn began her career at the Academy years ago and we're thrilled to welcome her back to the team."
  • She also previously worked with America's Health Insurance Plans (AHIP), AARP, the American Society of Health-System Pharmacists (ASHP), and began her public policy career as a Senior Health Policy (State) Analyst for the Academy.
  • The American Academy of Actuaries is a 19,500-member professional association whose mission is to serve the public and the U.S. actuarial profession.

Ameritas announces Bill Lester's retirement

Retrieved on: 
Monday, June 5, 2023
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LINCOLN, Neb., June 5, 2023 /PRNewswire/ -- William W. (Bill) Lester, CFA, FLMI, will retire as president and chief executive officer of Ameritas Mutual Holding Company, Ameritas Holding Company and Ameritas Life Insurance Corp., and as chair, president and CEO of Ameritas Life Insurance Corp. of New York, effective Jan. 2, 2024.

Key Points: 
  • LINCOLN, Neb., June 5, 2023 /PRNewswire/ -- William W. (Bill) Lester, CFA, FLMI, will retire as president and chief executive officer of Ameritas Mutual Holding Company, Ameritas Holding Company and Ameritas Life Insurance Corp., and as chair, president and CEO of Ameritas Life Insurance Corp. of New York, effective Jan. 2, 2024.
  • Bill Lester will retire as president and chief executive officer of Ameritas effective Jan. 2, 2024.
  • The board and I thank Bill for his leadership and congratulate him on his retirement."
  • More recently, Ameritas acquired two companies complementing the Ameritas group benefits and retirement plans businesses.

Patricia Guinn elected to Constellation Board

Retrieved on: 
Monday, June 5, 2023
Constellation, Society of Actuaries, Insurance, Actuarial science, WTW, National Association of Corporate Directors, Actuary, Risk management, American Academy, American Academy of Actuaries, Ohio National Life Insurance Company, Willis Towers Watson, Risk, National Association, Software, Management

Nationally recognized as a thought leader in the insurance and financial services industries, Patricia Guinn brings more than 45 years of risk management and mergers and acquisitions experience to her service with Constellation.

Key Points: 
  • Nationally recognized as a thought leader in the insurance and financial services industries, Patricia Guinn brings more than 45 years of risk management and mergers and acquisitions experience to her service with Constellation.
  • Patricia Guinn spent the majority of her career at Willis Towers Watson (NASDAQ WTW) and its predecessor companies, where her roles included interim chief risk officer and executive committee member.
  • In 2014, Patricia Guinn received the Actuarial Foundation’s prestigious Insurance Legends Award for her decades of distinguished service and intellectual contributions to the field.
  • “Constellation has an ambitious growth strategy, with the talent and financial backing critical for execution,” adds Patricia Guinn.

Frankenmuth Insurance Names Zachary Martin Assistant Corporate Secretary

Retrieved on: 
Sunday, May 21, 2023
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FRANKENMUTH, Mich., May 21, 2023 /PRNewswire-PRWeb/ -- Frankenmuth Insurance has announced Vice President Zachary Martin has been appointed to serve as Assistant Corporate Secretary, effective April 25, 2023.

Key Points: 
  • Frankenmuth Insurance has announced Vice President Zachary Martin has been appointed to serve as Assistant Corporate Secretary, effective April 25, 2023.
  • FRANKENMUTH, Mich., May 21, 2023 /PRNewswire-PRWeb/ -- Frankenmuth Insurance has announced Vice President Zachary Martin has been appointed to serve as Assistant Corporate Secretary, effective April 25, 2023.
  • Martin joined Frankenmuth Insurance in 2018 as the Director of Actuarial, Risk, and Compliance Services and brought 13 years of prior actuarial and technical experience from working for Liberty Mutual, Zurich North America, and TD Insurance.
  • In addition to serving on the Executive Committees of Frankenmuth Mutual Holding Company, Frankenmuth Holdings, Inc., Frankenmuth Insurance Company, and all subsidiary companies, Martin is a member of the Retirement, Political Affairs, and Risk committees.